I think I am clear on the "revised area of interest". The way I read it, CNB has control and Rory will receive the "glory" when they announce the source of all those indicator minerals ,and deep green diamond. They continue to kick in money for the revised area of interest while this is accomplished. Kennicott can then take back control under the original 60/20/20 agreement.
The price for this to CNB is the deal on the original Wawa Project. If I understand correctly, in this area it is every dog for himself, subject to a royalty to CNB/PVF of $5 million each. This also works the other way if CNB/PVF pull something out of the hat in the original area.
Am I reading this correctly? If I am, I see a problem with "how do they deal with a new anomaly in the original area, that both may be interested in?" Has CNB/PVF in reality walked on the original area in return for a $5 mill royalty each? Have they given up on this original area just for the opportunity to be the "operator" in the revised area, with no change in financial benefit?
Ouch! What price glory? He must be confident those new claims contain the "glory hole". Perhaps all are confident and since the future financial returns are already divided up on paper,"glory" IS the only thing being negotiated.
One can hope so anyway. Can you guys clarify this revised deal, if I am wrong on the original project area terms?
I still await with anticipation the AT56 macro results. With the action in NVR options,convertible debenture,and private placement in the last 30 days results may be significant. If the chemistry is the same as Victor, the SURFACE expression is only 2 or 3 miles away from Victor, perhaps it is more like a finger of the hand.50% is always better than 20% subject to quality and logistics. |
